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Binder Grösswang

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Binder Grösswang advises Scout24 group on acquisition of immobilien.net

11 June 2014

Binder Grösswang has advised the Scout24 group on the acquisition of Austrian real-estate portal www.immobilien.net.

With this takeover, the Germany-based Scout24 group has expanded its investment in Austria and is continuing its growth course. ImmobilienScout24 has pursued business activities in Austria through the platform www.immobilienscout24.at for more than two years.

Through this acquisition, two online portals are merging to form the largest and fastest-growing real-estate platform in Austria in terms of client numbers. Together, the two platforms recently registered a total of approximately 1.6 million visitors per month.

The acquisition is one of the largest takeovers in the history of the Austrian online sector. The parties have agreed not to disclose the purchase price. The transaction was closed on 28 May 2014.

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